The meeting was held to discuss conditionalities that have held up Pakistan's accession to the Fund's bailout programme.

"We discussed recent economic developments and prospects for Pakistan in the context of ongoing discussions toward an IMF-supported programme," Lagarde was quoted as saying by the statement.

"I reiterated that the IMF stands ready to support Pakistan."

The IMF chief said she highlighted during the conversation that Pakistan could "restore the resilience of its economy" through "decisive policies and a strong package of economic reforms".

Citing the PTI government's policy agenda, Lagarde said protecting the poor and strengthening governance were "key priorities to improve people’s living standards in a sustainable manner".

“The technical staff-level contact through video-link is due this week and may be followed up by Finance Minister Asad Umar next week,” said a senior government official, adding the two sides might still meet at the staff level if needed, Dawn reported.

“A lot of work still needs to be done, but a final agreement should be in place by April and implementation start rolling in June,” said the official, adding that all policy actions would revolve around the next year budget. “We have reached broad understanding and will stay engaged.”

Sources said the revenue collection target for the next fiscal year would be worked out by the IMF and it could be well above Rs4.7 trillion, compared to about Rs4.39tr this year fixed by the government. More upward adjustments in central bank’s policy rate and exchange rate depreciation would be part of the understanding, they said.

Further adjustments in energy prices, expansion in revenues, reduction in losses of public sector entities, further autonomy to the State Bank of Pakistan, market-based currency exchange rate and deep-rooted structural reforms are key areas under the future assistance package from the IMF. The two sides had already agreed on the way forward but had differences over the sequencing as the government wanted the passing of ‘further pain’ on to people next year.

A statement released by the Ministry of Finance on Twitter said deliberations between Pakistani authorities and IMF staff will continue "to finalise an agreement on the contours of a programme".

The ministry said that the premier "appreciated IMF's support to Pakistan and shared his vision for nation-building".

Prime Minister Khan also expressed the government's commitment to undertake structural and governance reforms and to strengthen social protection in the country, the statement added.

It also said that the IMF managing director recognised the steps taken so far by the government to bring stability to the economy. She expressed the Fund's desire to remain engaged with Pakistan in ensuring that economic recovery is sustained.

Earlier, Information Minister Fawad Chaudhry had said the Khan-Lagarde meeting would "give us a chance to understand the IMF views and we will be able to give our version to [the] IMF chief", Radio Pakistan reported. Chaudhry stated that Pakistan wants "a fair deal that can actually help Pakistan in the short-term without affecting our long-term economic goals".

Meanwhile, Foreign Minister Shah Mehmood Qureshi stressed that Islamabad wanted to proceed with the bailout package under conditions that would not put an unjustified burden on the common man.

Stumbling issue in IMF bailout talks

The IMF is asking for an adjustment of around Rs1,600-2,000 billion over three to four years. It also wants some corrective measures to put Pakistan’s economy on the right track after witnessing the highest-ever current account deficit.

But the stumbling issue in the talks is the pace of adjustments in the current expenditure. The emphasis on current expenditures comes as a result of a focus on what is known as a ‘primary balance’ in the parlance of public finance.

A senior official involved in the negotiations earlier told Dawn, there is some space for a cut in certain expenditures where Pakistan is in a comfortable position. "This agreement in cut will pave way for accession to the programme," the official claimed, adding it will be a politically difficult decision.

A cut in the current expenditures still seems to put the government in an awkward position by making adjustments in subsidies and other special grants.

The IMF has been demanding that the burden of any expenditure cuts should fall on current expenditures that include debt service, defence, and subsidies. Previous governments decreased development expenditures when undertaking the Fund’s adjustment and usually left current expenditures alone (other than subsidies).

But the official had said there is certain non-development spending which cannot be discontinued or reduced.

The primary balance of a government’s budget is the difference between revenues and expenditures after removing interest payments. It tests whether the path of debt accumulation of any country is sustainable or not.

If this is in deficit then it means that at least some of the interest payments due in the given year will have to be made through borrowing.

Cutting the primary deficit requires a cut in current expenditures, and usually becomes necessary when reducing debt-to-GDP ratio is a priority.

Finance Division’s Spokes­person Dr Khaqan Najeeb had told Dawn that productive dialogue continues with IMF on all areas including fiscal, energy, structural reforms and monetary policy. Discussions are part of regular ongoing interaction between government and IMF and will continue in coming weeks as well, he had said, adding that "technical level subject-specific discussions also support the process of overall dialogue".

According to Najeeb, the government has already taken several policy measures including an increase in interest rate, gas and electricity tariffs along with revenue measures.

The Ministry of Finance recently announced that the Federal Board of Revenue’s (FBR) target would not be revised downward following a revenue shortfall of Rs191bn in the first seven months.

The FBR has been asked to take administrative measures including revival of tax on mobile phone cards to cover up the shortfall in reaching the budgetary target.

The Fund has also asked for further monetary tightening as well as a complete free float of the exchange rate.

"We are already moving towards the target in these areas," the official had said, adding the IMF has acknowledged these measures.

According to the official, the finance minister has already conveyed to the IMF during recent parleys that only those measures will be taken which are favourable for the country’s economic growth.

Although the government has secured breathing space through Saudi Arabian and United Arab Emirates loans, an IMF programme is essential to unlocking access to resources from other multilateral lenders like the World Bank and the Asian Development Bank, as well as global capital markets.

On DawnNews

Comments (145) Closed

Ravi

Feb 10, 2019 06:28pm

All vague statements..Appears nothing concrete achieved..

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SAK

Feb 10, 2019 06:36pm

Just look at body posture and stance of present Pakistan PM while talking to IMF Manager. Our previous leadership used to be so apologetic and under confident while interacting with these world financiers because they were guilty and the same was known to other party. Now Pakistan stance is different and present government is talking like negotiations not begging and it is well known to Ms Lagarde as well.

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Sameer

Feb 10, 2019 06:43pm

IMF scares me.

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Concerned 1

Feb 10, 2019 06:44pm

That’s his plan in less then six months he has already borrowed tremendously

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Iffi

Feb 10, 2019 06:53pm

Could people out there remember what khan sahib use to say about getting IMF loans

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Bimal William

Feb 10, 2019 06:55pm

IMF bail out package is inevitable. The meeting between IK and president of IMF shows that they must have discussed about the package and it seems that Pakistan has accepted most of the conditions attached to it.

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Rabacca Houget

Feb 10, 2019 07:00pm

But want to see the agreement between Pakistan and China, on CPEC.

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Jamil Soomro, New York City

Feb 10, 2019 07:04pm

Let us be honest and realistic.IMF and World Bank in the long 70 Year History of Pakistan have always come
to Pakistan's rescue during Economic Crisis.

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RAja Raman

Feb 10, 2019 07:05pm

During campaign IK was critical of IMF. Once in power, he found out the reality. Very soon grants from KSA, UAE, China will dry out and it will be back to IMF.

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Raj

Feb 10, 2019 07:06pm

Once Pak PM said we will give loans to neighboring countries including India. Waiting for those days.

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Sat

Feb 10, 2019 07:13pm

Pakistan wants to eat the cake and have it too.

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Anti-Corruption_Pakistani

Feb 10, 2019 07:14pm

Direct talks with IMF's head is a good sign and indicates that PM understands the importance and involved in negotiation process. Whereas, in previous Nawaz Sharif's tenour only Isaq Dar was involved in negotiations, as he was a 'yes sir or madam' man and did exactly as he was instructed by his master.

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Ashutosh

Feb 10, 2019 07:18pm

A sinking ship seeking more help.

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Anon

Feb 10, 2019 07:19pm

Positive news.

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Sundar bala

Feb 10, 2019 07:19pm

In the pic, it appears as if IMF is asking for financial support from Pakistan.

So why all the confusion if pti wants to go to imf??.. Clarity and frankness are absent from this govt!

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Mr Nirmal Kumar

Feb 10, 2019 07:25pm

Chaudhry claimed that Pakistan wants "a fair deal that can actually help Pakistan in the short-term without affecting our long-term economic goals".

Basically, what the minister said was that pakistan is interested in imf money minus any of its conditions. Unfortunately pakistan has no option but to start fundamental economic reforms and some commonsenSe decisions

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Fastrack

Feb 10, 2019 07:40pm

IK will try not bow to IMF pressure. But the economic condition handed over to him by PMLN and PPP is appalling to say the least. Go captain.

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SHAHID SATTAR

Feb 10, 2019 07:40pm

At their terms only.

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Amadeus

Feb 10, 2019 07:40pm

Cut the defence spending, you can achieve the balanced budget in two years.

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Sikander

Feb 10, 2019 07:44pm

The article would have been more complete if IMF specify exactly what expenditures Pakistan must cut in order to XYZ stories....? So that one can expect something or not.

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Khurram

Feb 10, 2019 07:47pm

Money pouring in.

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Premji

Feb 10, 2019 07:49pm

Any loan from IMF means- IMF will decide where to spend, how much to spend, when to spend, and send report of spending. Basically IMF will run the show. That has happened in Latin America several times. Imran Khan has made many promises, so need to see what all will be approved by IMF.

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Dr. Salaria, Aamir Ahmad

Feb 10, 2019 07:51pm

What else can she say at this crucial juncture in time and history but to stand ready to support the fertile land of four seasons inhabitated by hardworking, intelligent and smart 225 million patriotic people of the Islamic Republic of Pakistan?

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ramasubba

Feb 10, 2019 08:01pm

What did imran khan do with the loans he got from saudi arabia and uae
where did he spend? Now once again why is he knocking IMF door?

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Zak

Feb 10, 2019 08:02pm

IMF are lenders, so they will lend. We have to make CPEC a huge success to be able to pay of all loans and be debt free.

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Zak

Feb 10, 2019 08:03pm

First time she met a knowledgeable articulate leader and understood his policy and direction.

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khan

Feb 10, 2019 08:03pm

No to IMF. Should approach friendly countries and bring back the $300B of looted money.

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Haroon

Feb 10, 2019 08:04pm

We know that Pakistan needs this IMF package. Friendly countries have bought PTI govt some breathing space, but we know that eventually IMF package is the way to go. PTI govt has already implemented some of the IMF demand, e.g. devaluation of the currency and increasing interest rates (probably at a faster rate than would have been done otherwise), but the sticking point now is the pace of other cuts. The reason why the govt is in such a sticky place is because of the huge current account deficit that was the result of PMLN govt policies. It will take time for any govt to steer the ship out of such stormy water.

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Ashutosh

Feb 10, 2019 08:12pm

Don’t take a loan just because it is available. Make sure that your loan-to-income ratio is within acceptable limits.

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Utpal

Feb 10, 2019 08:14pm

Missing a delaying a payment are among the key factors that can impact your credit profile as Pakistan's Moody rating is B negative.

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David_26

Feb 10, 2019 08:17pm

Best PM for Pak ever

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Jeevan Karkera

Feb 10, 2019 08:18pm

One can see and understand from the picture respect to Pakistan PM. It looks as if the meeting held in somebody's house as a normal friend.

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Raj patel

Feb 10, 2019 08:19pm

IMF is inevitable to pay the existing loan installments. How much this gov already borrowed?

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khan

Feb 10, 2019 08:40pm

@SAK,

Yeah, photo op is all we care about.

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Mahen

Feb 10, 2019 08:58pm

Where FM Asad Umar is hide now? Last option looks to be first option now.

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AW

Feb 10, 2019 08:59pm

Finally, we have a leader in PM Khan who makes Pakistan proud. The first ever PM in Pakistan which the nation trusts in terms of the money matters.

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Akram

Feb 10, 2019 09:00pm

@Ashutosh, “A sinking ship seeking more help.”

Sinking with PMKhan on the steering? No way. He will steer our country to better future.

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Aamir

Feb 10, 2019 09:01pm

So getting a loan is an achievement in Naya Pakistan!

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Akram

Feb 10, 2019 09:04pm

@Concerned 1, “That’s his plan in less then six months he has already borrowed tremendously”

And how much of that borrowing has been laundered abroad to purchase posh London property? It’s all being used to plug that huge fiscal gap left behind by Ishaq Dar and Co.

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Salam afridi

Feb 10, 2019 09:04pm

Imarn khan we support your compaign against corruption.

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Akram

Feb 10, 2019 09:05pm

@Mr Nirmal Kumar, . Thank you so much for visiting this site and giving us free economic lessons.

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Salam afridi

Feb 10, 2019 09:06pm

To all the trolls from Modi India, we understand your pain.

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Jacky

Feb 10, 2019 09:13pm

Protecting the poor?

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Vorshal Handa

Feb 10, 2019 09:15pm

Just wait and watch -

This rather long-term passage of the country's economic development will be very hard to endure, and it shall raise numerous opportunities for the political rivals to challenge the programs and highlight the failures.

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M.Emad

Feb 10, 2019 09:21pm

@Concerned 1, "That’s his plan in less then six months he has already borrowed tremendously"
Please enlighten us with your alternate plan!

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Omer

Feb 10, 2019 09:28pm

Heartening to see so many Indians worried about Pakistan's economy.

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omveer

Feb 10, 2019 09:30pm

The negotiations will start and IMF will ask uncomfortable questions on CPEC and other sundry debters and creditors. How much loan, the periodicity, methods of paying back including improvement and financial probity. Interesting times ahead for you.

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Pervez

Feb 10, 2019 09:38pm

@Sameer, then let's not go to them.

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Newborn

Feb 10, 2019 09:41pm

Unsurprisingly; a U-turn on IMF.

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Shafiq Shah

Feb 10, 2019 09:52pm

PPP and PMLN governments have put us into this situation. They have been spending more than their income without realising that we have pay back the borrowed money. We are now in a situation of unsustainable debt. This was a criminal negligence and people have to pay.

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Zeeshan

Feb 10, 2019 09:57pm

@Ravi, can see the jealousy of the indian commentators here everyday lol. Pakistan Zindabad, PM IK Zindabad!

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Thoughts

Feb 10, 2019 10:07pm

Note that those “decisive policies” will never be reality!

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Thoughts

Feb 10, 2019 10:09pm

All note that under no conditions will the government allow wealthy Feudals and Elites to be brought into the direct tax net!

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Asad

Feb 10, 2019 10:13pm

wow noonie trolls are everywhere

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Mark

Feb 10, 2019 10:14pm

On IMF loan itself this man has done a few U-turns!

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Maria enteparia onnuchoriu

Feb 10, 2019 10:14pm

How many U turns did he have on this one issue so far.

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Javed Jani Kuwait

Feb 10, 2019 10:18pm

IMF was always ready, but my Pakistan is not ready, doubtful if it will be ready ever.

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Hwh

Feb 10, 2019 10:32pm

Let's see what Pakistan gets at what cost.

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Khalid

Feb 10, 2019 10:45pm

@Akram, Whether he is successful or not, he is trying his best.

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naseem

Feb 10, 2019 11:21pm

Just cut off luxury items, huge cars and defence budget and implement population control, and we will be half way into reformation of our economy, The rest will take care.

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KHK

Feb 10, 2019 11:27pm

Pakistani people have to work harder for long time to emerge from the mud hole shrifs have pushed you in.

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Sid

Feb 10, 2019 11:28pm

@Raj, given the problems Pakistan is in - it will be a long time before that can happen. Pakistan needs to get its own house in order first by eliminating the corrupt mafia within its political system

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Anwar Saleem

Feb 10, 2019 11:49pm

He would stand up on container and curse everbody for going to IMF . First time PM himself meeting IMF boss !!!! What a change

@Raj, "Once Pak PM said we will give loans to neighboring countries including India. Waiting for those days". CPEC is not completed yet.

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JustWasif

Feb 11, 2019 12:21am

Vague.. Vague everything is vague

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Chinpaksaddique

Feb 11, 2019 12:28am

Great to see PMIK grand on a bigger chair than the IMF chief

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Shoaib Rehman

Feb 11, 2019 12:45am

The man has zero integrity. And anyone who falls for his rhetoric is a fool.

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Fahad Arshad

Feb 11, 2019 01:09am

It is very important to understand one thing here. This is the first time the public is being made to feel the details of such a funding programme from the IMF. Earlier it was one way dictation. You want money you do this. And it was done. Now we are really negotiating. We have set out a good stage balanced some of our books, already implemented some of their prerequisites. This has all the looks of being a professional enough deal that may end the need for future such loans.

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Amit Gaikwad

Feb 11, 2019 01:10am

@Salam afridi, To all the trolls from Modi India, we understand your pain......

Bhai common Pakistanis are going to pay back these huge loans and not Indian citizens...... You should be worried about the amount of loans and not ecstatic...!!

Recommend0

RationalBabu

Feb 11, 2019 01:34am

@Khurram, is all the money just pouring in without any payback conditions? So naive!!

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Dawn

Feb 11, 2019 01:36am

They all listen to IK.

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Private trip

Feb 11, 2019 01:49am

@Zak, “IMF are lenders, so they will lend”

They are not commercial lenders. They are lenders of last resort. They are approached by countries when they run out of options. It goes without saying that when a country is in that situation, there will be tough conditions you have to comply with.

Which lender lends based on borrower’s conditions? At a time that you have to borrow to pay interest (that is what negative primary balance means), you cannot say you are entitled to conditions which permit high growth rate. You have to cut aggregate demand which means growth rate will go down.

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RationalBabu

Feb 11, 2019 01:54am

@Salam afridi, what pain?

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RationalBabu

Feb 11, 2019 01:59am

@Zeeshan, only good wishes for you, what is there to be jealous about?

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P L Bakhshi

Feb 11, 2019 02:00am

According to Finance Minister Asad Umar Pakistan needs infusion of $12 billions in loan immediately to quell its currenteconomic crisis. If the country has asked IMF for support, it will not be the first time to do so, the nation has gone through decades of debt blow out and balance-of-payment imbalances and 12 IMF programmes since mid 1980’s. It seems PTI Govt. has finally reconciled that the much publiscised help sought from so called friendly countries has been either too small to the country’s needs or are tagged with multitude strings and so the best course is to revert back to IMF for emergency loans to ease mounting balance of payment crisis. The sooner it is done better it will be.

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Dr Amir Khan

Feb 11, 2019 02:05am

Let us understand that he is the PM for Pakistanis not outside world. Traditionally, no one respects as a seeker, check your own opinion about the person asking you for money, No one know where the money is utilized. IMF is not helping, what is next? Qatar?

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Morning star

Feb 11, 2019 02:13am

@Raj, be careful for what you wish for, you might get it and then don't like it.

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Azad AK

Feb 11, 2019 02:32am

sustainable development in accordance to UNO charter, the largest NGO is their pursued agenda over all of mankind.

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gt

Feb 11, 2019 03:01am

Pakistan need 10 Billion dollar more cash right away despite loan money already got from Saudi and UAE.This country has been mismanaged for long time by PPP and NS party which had made corruption way of life like Congress party in India from fake Gandhi family and its goon and thug ministers.New PM is trying to solve old puzzle despite having lot of difficulties.

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harry

Feb 11, 2019 03:10am

Her chief economist is Gita Gopinath.

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Haroon

Feb 11, 2019 03:34am

@Concerned 1, perhaps you can give us a list of this trump like 'tremendous' borrowing list? By the way, money from Saudi and UAE is more like deposits rather than loans.

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Saleem Ansari

Feb 11, 2019 03:46am

IMF knows that after receiving financial aid from China, UAE and Saudi Arabia, Pakistan may not need IMF bail-out. That would be a big blow to IMF and would make that less attractive to other nations. So, IMF wants to get into Pakistan and put their shackles on Pakistan again. If possible, IK govt. should avoid IMF trap.

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Khan

Feb 11, 2019 03:49am

Biggest tsunami is coming in next budget in shape of Highest Taxes in Pakistan to please IMF.

@Mr Nirmal Kumar, one can not negotiate from the position of weakness.

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S R

Feb 11, 2019 04:14am

@Sundar bala, you are right. This govt is only focused on pictures. Everything stops after pictures, unfortunately.

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hussain

Feb 11, 2019 04:45am

@Sameer, so it should, they are there really to keep the poor down

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LAHORI KID

Feb 11, 2019 04:50am

@Concerned 1, Borrowed because why? I’ll help you, because the previous governments borrowed without blinking, without looking into the future, they only had one goal, borrow money so they can look good for their supporters, not realizing that it would put tremendous burden on the coming governments and generations. Now here we are, I strongly suggest reading up on the borrowing of previous governments, so you can understand the reason behind the borrowing today.

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flying star

Feb 11, 2019 05:22am

@RAja Raman, Question the reason to PPP and PMLN.

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Malick

Feb 11, 2019 05:27am

Pakistan should not accept any bailout package from IMF which is more burden on nation. People of Pakistan are now prepared and ready to face hardships.

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Vorshal Handa

Feb 11, 2019 06:04am

So, where is the snag?!

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Aamir

Feb 11, 2019 06:12am

So now IMF needs the PM to apply for a loan?

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Shakil

Feb 11, 2019 06:24am

@Ravi, dont you worry about it!

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wc

Feb 11, 2019 06:25am

@Ravi, it doesn't affect you anyhow. if you don't like it do something about it.

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wc

Feb 11, 2019 06:25am

@Sameer, most things scare you.

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Ilyas Tarar

Feb 11, 2019 06:25am

IMF dictates state policy and is a tool of political, economic and geostrategic change. It's a no no for me. I wish we can avoid it at all cost.

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wc

Feb 11, 2019 06:28am

@ramasubba, go ask him.

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Dipak

Feb 11, 2019 06:37am

Its a conditional. Proposal .

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Harry Jam

Feb 11, 2019 07:21am

To my Indian fellows...mind your own business and don't worry about us. We'll be just fine. Try to fix your poverty, religious issues, green cards issues, etc.

Recommend0

Leoman

Feb 11, 2019 08:02am

Sooner or later, he had to but what's the use of being late as even economic council he set up suggested to go-to IMF.

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N Abidi

Feb 11, 2019 08:04am

Impressive,to see a PM talk to people at eye levels! Yes, can not believe, we are seeing this in our life time! Pm IK you are the leader that Pakistan needed!,

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Ashish Kumar

Feb 11, 2019 08:19am

Really appreciate PMIK’s outreach to help IMF.

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Junaid

Feb 11, 2019 08:21am

It’s getting bad to worse.

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Abdullah Alvi

Feb 11, 2019 08:59am

Good! But one must not boast oneself as an ideal when one can’t stand by ones own words. IK, lead from the front. There is no harm in restructuring economy but remain truthful towards your voters and present real pictures before them- transparently.

Recommend0

Marvin

Feb 11, 2019 09:30am

IMF money should not be used to pay off Chinese loans.

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Asad

Feb 11, 2019 09:39am

Imran khan was one of the most vocal opponent of IMF now goes hand in hand.

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Yuong

Feb 11, 2019 09:48am

Time to get ahead of mare statements and do something on ground.

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iffi

Feb 11, 2019 10:03am

Salutes to khan for going against his principals for the sake of Pakistan ... i hope & pray they use the money to turn around the country ...

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iffi

Feb 11, 2019 10:06am

@Iffi, He doesnt have a choice & are u suggesting IK should let the country default. IK is taking loans to clear the mess of previous govts rather partners ...

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Taimur

Feb 11, 2019 10:21am

Government should have been honest to the people and should have told that they are increasing gas and electricity prices and decreasing the value of rupee just to beg more from IMF

Recommend0

Wahab

Feb 11, 2019 10:23am

@Salam afridi, Not pain, scorn. We can clearly see what you refuse to see.

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Taimur

Feb 11, 2019 10:25am

@Premji Hi Premji , I agree with you. I think this would be better that IMF run the show. Our leaders have proved to be incompetent. IMF will at least run better show. They will have to take back money and will not allow less opportunities for corrupt politicians

Recommend0

Rehan

Feb 11, 2019 10:28am

@Malick, You face the hardships caused by the corrupt, I will not.

Recommend0

Real reason

Feb 11, 2019 10:35am

@Saleem Ansari, "IMF knows that after receiving financial aid from China, UAE and Saudi Arabia, Pakistan may not need IMF bail-out. That would be a big blow to IMF and would make that less attractive to other nations"

IMF is the lender of last resort. It is Pakistan which approached IMF not the other way around. If Pakistan did not really need IMF support, it would not have approached it. Pakistan will get into the program but only after it has complied with IMF's conditions.

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DK PAMNANI

Feb 11, 2019 10:54am

Pakistani government has no alternative but to accept all the terms and conditions of IMF if pakistan wants loan. Just to clear the loans of CPEC, IMF is not ready to pay the loan to Pakistan.

Sure IMF wants to help pakistan but what are the conditions for giving loans? Instead of relying on loans, encourage investors to set up their tent in pakistan.....instead of being just friend with China, learn what they did in 70s and 80s....direct investment is a well proven method to boost economy....

Recommend0

SHAHID SATTAR

Feb 11, 2019 12:25pm

And who pays the price? The citizens of Pakistan.

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Ahmed

Feb 11, 2019 01:57pm

Asking for a " complete free float of the exchange rate" will lead to a surge in the dollar rate. State Bank's intervene in the market to keep the rate from rising or falling too steeply. One of the main factors in exchange rate volatility: Political stability.

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WayToGo

Feb 11, 2019 01:57pm

Its a lone whats ready to support? Means..

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khosla

Feb 11, 2019 02:00pm

india can easily make a loan if IK asks

Recommend0

Ahmed

Feb 11, 2019 02:10pm

The PTI has a one-horse agenda: corruption. More harm was done in monetary terms by the recent steep rise in the dollar than all the corruption over the years.

Recommend0

Ahmed Khalid

Feb 11, 2019 03:10pm

@Rabacca Houget, Quoting from British PM Mrs. May, "Such things are not made Public".

Recommend0

Akhand Bharat

Feb 11, 2019 03:37pm

Help me understand, who does Pakistan owe money to? How much is that sum ? How much is Pakistan borrowing to pay the installment ? How will Pakistan grow it's income to pay off the entire debt eventually.

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Jjacky

Feb 11, 2019 03:40pm

@Saleem Ansari, than what is ur PMIK discussing with IMF Chief if u dont want loans. Just call back ur PM.

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pakRAT

Feb 11, 2019 03:42pm

@Iffi, YES. We will never go to the IMF

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pakRAT

Feb 11, 2019 03:45pm

@RAja Raman, RAja Bhai, these are not grants from friendly countries. They are loans with strings attached. Default will trigger the pound of flesh.

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Salman

Feb 11, 2019 08:39pm

@Raj,
He did also say when conditions improve and our economy is vibrant.
Please do not quote statements out of context. That is also lying

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LAHORI KID

Feb 12, 2019 08:24am

@Sat, Its bake the cake and eat it too.

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LAHORI KID

Feb 12, 2019 08:26am

@Abid, There is no confusion, you just aren't well informed, you should read DAWN more often so you know what's going on in the country

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LAHORI KID

Feb 12, 2019 08:28am

@Raj patel, how's the poverty situation in India? You should worry about your own countrymen

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Gaurav

Feb 12, 2019 09:30am

LAHORI KID :how's the poverty situation in India? You should worry about your own countrymen"

Hate to break it to you kid... poverty is everywhere. It is there in China and ALL the first world countries. The difference is the percent of population effected by it.

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Gaurav

Feb 12, 2019 09:31am

I dont think IMF ever said NO. All they wanted was clarity on debts owed. I dont think that IMF has changed that demand.

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You said it

Feb 12, 2019 09:50pm

@Anti-Corruption_Pakistani, "Direct talks with IMF's head is a good sign and indicates that PM understands the importance and involved in negotiation process."
Asad Umar mentioned yesterday that the discussion between Imran and Lagarde was NOT a negotiating round.

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The Best

Feb 12, 2019 11:38pm

@Newborn, You really are a newborn and need to learn the past and present before putting comments out there

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Kaka

Feb 13, 2019 03:08am

I don't know who the host was at this meeting, but Interesting to see Imran Khan sitting on a comfortable sofa. with refreshments in front of him, like a lordship, while International Monetary Fund (IMF) Managing Director Christine Lagarde, and others are sitting on ordinary chairs like they were his courtiers. paying homage to him. I am wondering if this was just a happenstance or subject to the circumstances at that juncture, or a deliberate set up to indicate the pecking order. Be what it may, at first sight, it appears to be a blatant breach of proper decorum and protocol if not just plain good manners. As trivial as this might to seem to some, these infractions are noted the world over, and do have an impact on the relations and outcomes of important meetings and negotiations., not to say of the image of the entity committing the breach.

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Pro Democracy

Feb 13, 2019 10:39am

@Raj, And Pakistanis are waiting when he will hang himself on live TV event for asking for loans from IMF.

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Pro Democracy

Feb 13, 2019 10:47am

@Fastrack, He is himself responsible for economics mismanagement in last six months and care takers in three months before him.